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Article: Using a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation model
Title | Using a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation model |
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Authors | |
Issue Date | 1987 |
Publisher | Pergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb |
Citation | Transportation Research Part B, 1987, v. 21 n. 5, p. 339-357 How to Cite? |
Abstract | The general equilibrium effects of alternative transportation policy proposals are analyzed using a multi-modal, benefit-cost model of demand and supply within a discrete choice framework. Using the expenditure function as an empirical construct yields Hicksian consumer's surplus measures, which are usually not directly observable. Despite the absence of data on the complete budget and only mode choice data, the procedure we use to prove the stochastic analog of Roy's Identity identifies the entire indirect utility function, and hence the explicit expenditure function. The model is applied to a corridor simulation model of Interstate 580 of the San Francisco Bay Area. Travel demand is calibrated using multinomial logit on a sample of work-trip commuters. Detailed modal costs are estimated and entered as parameters of the demand model. The Scarf algorithm equilibrates the analytic disaggregated demand model and a parallel analytic supply model. Our forecast is based on a synthetic sample of households generated by an efficient program that uses census data. The benefits of policy alternatives, such as marginal (resource) cost pricing are computed and discussed. © 1987. |
Persistent Identifier | http://hdl.handle.net/10722/177651 |
ISSN | 2023 Impact Factor: 5.8 2023 SCImago Journal Rankings: 2.660 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Hau, TD | en_US |
dc.date.accessioned | 2012-12-19T09:39:26Z | - |
dc.date.available | 2012-12-19T09:39:26Z | - |
dc.date.issued | 1987 | en_US |
dc.identifier.citation | Transportation Research Part B, 1987, v. 21 n. 5, p. 339-357 | en_US |
dc.identifier.issn | 0191-2615 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/177651 | - |
dc.description.abstract | The general equilibrium effects of alternative transportation policy proposals are analyzed using a multi-modal, benefit-cost model of demand and supply within a discrete choice framework. Using the expenditure function as an empirical construct yields Hicksian consumer's surplus measures, which are usually not directly observable. Despite the absence of data on the complete budget and only mode choice data, the procedure we use to prove the stochastic analog of Roy's Identity identifies the entire indirect utility function, and hence the explicit expenditure function. The model is applied to a corridor simulation model of Interstate 580 of the San Francisco Bay Area. Travel demand is calibrated using multinomial logit on a sample of work-trip commuters. Detailed modal costs are estimated and entered as parameters of the demand model. The Scarf algorithm equilibrates the analytic disaggregated demand model and a parallel analytic supply model. Our forecast is based on a synthetic sample of households generated by an efficient program that uses census data. The benefits of policy alternatives, such as marginal (resource) cost pricing are computed and discussed. © 1987. | en_US |
dc.language | eng | en_US |
dc.publisher | Pergamon. The Journal's web site is located at http://www.elsevier.com/locate/trb | en_US |
dc.relation.ispartof | Transportation Research Part B | en_US |
dc.title | Using a Hicksian approach to cost-benefit analysis in discrete choice: An empirical analysis of a transportation corridor simulation model | en_US |
dc.type | Article | en_US |
dc.identifier.email | Hau, TD: timhau@hku.hk | en_US |
dc.identifier.authority | Hau, TD=rp01068 | en_US |
dc.description.nature | link_to_subscribed_fulltext | en_US |
dc.identifier.doi | 10.1016/0191-2615(87)90035-X | - |
dc.identifier.scopus | eid_2-s2.0-0023517424 | en_US |
dc.identifier.volume | 21 | en_US |
dc.identifier.issue | 5 | en_US |
dc.identifier.spage | 339 | en_US |
dc.identifier.epage | 357 | en_US |
dc.identifier.isi | WOS:A1987K196000001 | - |
dc.publisher.place | United Kingdom | en_US |
dc.identifier.scopusauthorid | Hau, TD=24404637500 | en_US |
dc.identifier.issnl | 0191-2615 | - |